Mideast Stocks: Saudi leads Gulf markets higher; Egypt retreats | ZAWYA MENA Edition:
Most Gulf bourses ended higher on Tuesday, with Saudi Arabia outperforming in the region on the back of banking shares, while the Egyptian index was hit by blue-chip sell-off.
Saudi Arabia's benchmark index advanced 1.2%, buoyed by a 1.5% gain in oil giant Saudi Aramco and a 4.6% leap in Riyad Bank .
The kingdom's consumer price index jumped 6.1% in July compared with last year, boosted by a tripling of value-added tax, official data showed on Sunday.
Dubai's main share index rose 0.8%, extending gains for a sixth session, with blue-chip developer Emaar Properties jumping 3.6%, while its unit Emaar Malls gained 2%.
Dubai Islamic Bank, the country's largest sharia-compliant lender, advanced as much as 2.5%.
Arabtec Holding, however, declined 4.9% to extend losses for a third straight session.
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